First Microfinance 6th AGM today; to endorse 15% bonus share

First Microfinance Development Bank Limited (FMDBL) is convening its 6th Annual General Meeting (AGM) today (Mangsir 2, 2072). The AGM is going to be held at Amrapali Banquet, Bhatbhateni, Kathmandu at 11:00 AM. Main agendas of the AGM are:

• To endorse 15 percent bonus share and 0.79 percent cash dividend (for tax purpose) from the net profit it earned from the fiscal year 2071/72.
• To increase Authorize, Issued and paid up capital from Rs 20 crore to Rs 23 crore
• Another main agenda is conversion of promoter – public shareholder structure to 51% promoter shares and 49% ordinary shares. After the conversion, the promoter share to ordinary share ratio of the finance will stand at 51:49 percent.
• To amend article of association accordingly.

Other Agendas of the AGM include financial highlights of 2071/72 and appointment of auditor. Only those shareholders owning shares till Kartik 12 will be entitled to the bonus share of the company. The register of their shareholders will remain close from Kartik 15, 2072 till Mangsir 2, 2072 for the purpose of its upcoming AGM. First Microfinance has earned net profit of Rs 1.10 crore in its first quarter of the current fiscal year 2072/73.